Brazil Defence Spending Gets R$2.5 Billion Outside Fiscal Cap in 2026

Politics Key Facts —2026 carve-out. An extra R$2.5 billion (US$460 million) in defence investment will be excluded from Brazil’s fiscal rules next year. —Multi-year plan. A law authorises up to R$5 billion annually for six years, totalling R$30 billion, for strategic projects outside the spending cap. —Frozen funds. The move aims to recover R$3 billion…